Data from Token Unlocks on Friday showed that around $2 billion worth of tokens will be unlocked in September. The month will kick off with $82 million worth of tokens entering circulation next week, with Immutable X (IMX) and TAIKO leading the way in terms of unlocked volume.

IMX and TAIKO Kick Off September With $82 Million in Tokens Released

The cryptocurrency market is gearing up for a major token unlock in September. Over $2 billion worth of tokens, including Solana (SOL) and Worldcoin (WLD), will officially enter circulation. Solana is expected to release around $360 million in new supply, while Worldcoin will add around $304 million in new tokens.

Next week, tokens like IMX, TAIKO, MODE, ENA, GAL, HFT, and DYDX will release a total of $82 million worth of tokens, kicking off this unlocking chain.

Cliff unlocks are events where a project releases tokens to investors, community members, or advisors. This can often lead to a drop in the token price if demand is not strong enough to absorb the increased supply.

IMX and TAIKO will see the largest unlock volume next week, representing over 80% of the total token value unlocked, with a total of $66 million worth of new tokens entering circulation. IMX is expected to unlock $46.11 million worth of tokens, or about 2% of the current supply. TAIKO will release $20 million worth of tokens, representing 19% of the circulating supply.

Token Unlock Schedule Next Week | Source: Token Unlocks

Both tokens are seeing a price drop over the past 24 hours and may continue to face downward pressure following an increase in supply.

Other tokens that will also see an increase in supply next week include MODE, with $6.3 million unlocked, or 38% of its current supply. ENA will unlock $3.5 million, GAL $2.3 million, HFT $1.97 million, and DYDX $1.4 million worth of tokens.

Buying opportunity?

September promises to be a volatile month for the cryptocurrency market as over $2 billion worth of tokens are unlocked, with projects like IMX and TAIKO leading the way. These unlocks can create downward pressure on prices due to the surge in supply, especially for tokens with large unlock volumes. However, for strategic investors, this can also be an opportunity to capture potential assets at more reasonable prices. Closely monitoring unlock events and market trends will be key to making smart investment decisions in the coming time.


Source: https://tapchibitcoin.io/altcoin-sap-mo-khoa-2-ty-usd-trong-thang-9-imx-va-taiko-dan-dau-tuan-toi.html